BP partners cause chaos April 11, 2011 THE CHAIRMAN of Rosneft stepped down yesterday, creating further uncertainty for BP and its plans for a £10bn share swap and exploration deal with the Russian state-owned oil giant. Igor Sechin, who is also Russia’s deputy prime minister, announced his resignation at a shareholder meeting yesterday as part of a country-wide removal of politicians from [...]
Russia’s deputy premier to leave Rosneft chair March 31, 2011 Russian president Dmitry Medvedev has ordered top ministers to quit the boards of major state firms, launching a drive to separate politics from business less than a year before a presidential election. The most prominent target of the shakeout was Igor Sechin, a deputy premier with sweeping control over energy policy who as chairman of [...]
Russia’s deputy premier to leave Rosneft chair March 31, 2011 Russian president Dmitry Medvedev has ordered top ministers to quit the boards of major state firms, launching a drive to separate politics from business less than a year before a presidential election. The most prominent target of the shakeout was Igor Sechin, a deputy premier with sweeping control over energy policy who as chairman of [...]
TNK-BP oligarch: ‘we could sell stake to BP’ April 26, 2011 A resolution to BP’s ongoing dispute with its Russian partner TNK-BP may be in sight after one of the tycoons in the joint venture said he and others would be willing to sell their stake to BP. Viktor Vekselberg, one of the oligarchs making up the AAR consortium that owns half of the TNK-BP venture, [...]
Don’t worry, the party in commodities isn’t over yet May 11, 2011 COMMODITIES took a big knock in the recent correction, but the fundamentals still point towards continued rises over the medium term. Assuming you aren’t planning to fill your home with sheep, soybeans and platinum, with certain provisos, commodity funds can offer you a route in. THE PARTY ISN’T OVER Investors who joined the commodity party [...]
Protests and angry investors colour BP meeting April 14, 2011 Protestors against BP’s Gulf of Mexico oil spill disaster and Canadian tar sands exploration disrupted its annual meeting today, while the company came under fire from a range of investors. Shareholders tackled BP’s board with questions over its risk management, climate change, environmental damage and the fallout from its $16bn (£9.8bn) share swap deal with [...]
Protests and angry investors colour BP meeting April 14, 2011 Protestors against BP’s Gulf of Mexico oil spill disaster and Canadian tar sands exploration disrupted its annual meeting today, while the company came under fire from a range of investors. Shareholders tackled BP’s board with questions over its risk management, climate change, environmental damage and the fallout from its $16bn (£9.8bn) share swap deal with [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 12, 2011 FINANCIAL TIMES FOREIGN BANKS AND GOVERNMENTS IN DESPERATE ASSAULT ON US TAX LAW Banks and foreign governments are mounting an increasingly desperate push against a sweeping US tax law that will force overseas institutions to report their American clients to the Internal Revenue Service. The Foreign Account Tax Compliance Act was passed by Congress last [...]
BP-Rosneft deal blocked again April 8, 2011 A $16bn (£10bn) share exchange between BP and state-owned Russian counterpart Rosneft has been blocked again. An arbitration panel upheld an injunction on the deal, but gave BP more time to hammer out a solution. Russian shareholders of TNK-BP – an earlier joint venture of the UK firm – have argued that the Rosneft tie-up [...]
Growing debt will push the dollar lower May 17, 2011 IN A trick worthy of the great escapologist Harry Houdini, Treasury Secretary Tim Geithner has avoided hitting the US debt limit of $14,300bn by under-investing in social security and delaying debt auctions. However, creative accounting can only get a country so far. At some point the authorities need to deal with their fiscal profligacy and [...]